That’s why it’s important to insure your home at the level it would cost to replace it—not its market value. Although it might seem like you’d save money if you insured your home for its market value, you could end up worse financially if disaster hits.

It might seem strange to think about. People are inclined to think in terms of value—how much is your car worth? How much did you spend on that coat? But when it comes to insuring your home, the current market value isn’t necessarily the most important aspect. Keeping yourself protected from financial disaster is.

One word – snow!

• If you have 6″ of snow covering 1,000 square feet of your roof, if it melts it will produce about 1,750 gallons of water.
• Snow accumulating on the ground next to your house can melt and seep in causing water damage and a wet basement.
• Snowmelt flooding in the mountains occur when the snow starts to melt and the resulting water begins to flow because the ground is still frozen and cannot absorb the melted snow.
• Snowmelt flooding is worsened by rains falling over the mountain snow adding to the water that flows into the creeks and rivers.

So here’s what you do to protect your family and property from the dangers of snowmelt.

1. Buy flood insurance now because there is a 30 day waiting period before a policy can take effect.
2. Make sure that downspouts carry water several feet from your house to a well drained area.
3. Move snow on the ground away from the house at least 3-5 feet.
4. If you have a sump pump keep it clean and make sure you have your discharge hose carry the water several feet away from your house. Remember to keep the pipe on a slope to keep it from freezing.
5. Remove show from your yard to a well drained area to minimize soft, wet soil conditions.
6. Anchor any fuel tanks. An unanchored tank can be torn away by flood waters and contaminate the area.
7. Have a licensed electrician raise the electric components about 12″ above your home’s projected flood elevation.
8. Place the furnace and water heater on masonry blocks or concrete at least 12″ above your home’s projected flood elevation.
9. If you keep your washer and dryer in your basement, place them on masonry blocks at least 12″ above your home’s projected flood elevation.
10. Plan and practice a flood evacuation route with your family.
11. Ask an out-of-state relative or friend to be a contact person in case your family is separated during a flood. Make sure everyone in your family knows the name, address, and phone number of this person.

Did You Know…
• Floods are the number 1 natural disaster in
the United States.
• In 2007, flooding occurred in all 50 states.
• New land development can increase flood risk.
• 25% of insurance flood claims come from
low-to-moderate risk areas.

Think it Couldn’t Happen to You?
Floods can happen any time of year, from a wide range of sources. Heavy rains, melting snow, poor drainage systems, and hurricanes can cause flooding. Everyone lives in a flood zone, which are areas of low, moderate and high risk. Just because a flood hasn’t happened in the past, doesn’t mean it won’t in the future.

How Flood Insurance Can Protect You
Flood insurance helps to protect you from the financial devastation caused by floods. A few inches of water can cause thousands of dollars worth of damage. Flood insurance can cover both your home’s structure as well its contents. Damage caused by floods is not covered under a standard homeowners policy. Also, there is a 30-day waiting period before a flood policy takes effect, so don’t wait before it’s too late.

Only a flood insurance policy can offer the protection and peace of mind you need for your home and your belongings in case of a flood.

Flood Myths & Facts.
Don’t let these common misconceptions about floods prevent
you from getting protected.
Myth: A standard homeowners policy covers flooding.
Fact: Many homeowners do not find out until it is too late that
their homeowners policies do not cover flooding.
Myth: Only residents of high-risk flood zones need to insure
their property.
Fact: Even if you live in an area that is not flood-prone, it
is advisable to have flood insurance. Preferred risk policies
are designed for residential properties located in low- tomoderate
risk flood zones.
Myth: Federal disaster assistance will pay for flood damage.
Fact: Before a community is eligible for federal disaster
assistance, it must be declared a federal disaster area. This
happens in less than 50 percent of flooding incidents. The
main form of federal assistance after a federally declared
disaster is a loan.
Myth: Federal flood insurance can be purchased only directly
through the NFIP.
Fact: Most federal flood insurance is sold and serviced by
Write Your Own companies, such as the ones we insure with.
Myth: You cannot purchase flood insurance immediately
before or during a flood.
Fact: You can purchase National Flood Insurance at any time.
However, in most cases, there is a 30-day waiting period from
the date of application and premium payment before the
policy takes effect.
Myth: You can’t buy flood insurance if your property has
previously flooded.
Fact: It doesn’t matter how many times your home has been
flooded. You are still eligible to purchase flood insurance
provided that your community participates in the NFIP.

Start preparing today.
Use these tips to help protect your home and possessions in the event a flood happens to you.
Before a Flood
• Prepare Your Home. If you have any electrical appliances in a basement, elevate them off the ground.
• Keep important documents and personal objects in a safe place where they won’t get damaged. Take photos of any valuable possessions and save receipts.
• Have An Emergency Plan. Make sure your family has an evacuation plan in the event of a major storm.
During a Flood
• Fill bathtubs and sinks with clean water, as flood waters can become contaminated.
• If instructed to evacuate your home, do so immediately.
• Avoid walking through floodwaters. Flowing water can carry a strong current.
• Do not drive through a flooded road. Turn around and find a safer route.
After a Flood
• If your home has suffered damage and you have flood insurance, file a claim immediately.
• Take photos of the damaged areas. Compile a list of damaged items and their value.
• Remove wet contents immediately. Mold can develop within 48 hours in wet carpets and furniture.

Stanberry Insurance contributed $500.00 to the relief fund that ultimately was a donation to the American Red Cross in the amount of $234,782.00!

“We’re grateful for the generosity of community partners like Erie Insurance,” said Pam Masi, executive director of the Erie Chapter of the American Red Cross.  “With your help we’re making an immediate difference in Haiti.”

As recently as October of 2009, WNC felt the tremors of a 2.5 magnitude earthquake just 20 miles south of Asheville. Though that quake was not classified as severe, our history does show how surprising and costly earlier quakes have been. In February of 1916, a 5.2 earthquake caused Waynesville residents to flee into the streets, as chimneys toppled and windows cracked. The intensity of the largest earthquake in North Carolina history was felt throughout the south east region to include residents of Alabama, South Carolina, Kentucky and West Virginia. Move forward to 1928. Many seniors in Asheville recall the earthquake that struck that November. It is recorded that there was panic in the theaters, homes damaged by falling items, chimneys leveled, the cracking of home foundations and broken water lines. Other notable earthquakes were reported in 1935, 1957, 1969, 1970 and 2007.

Growing urban development and buildings that have been built prior to current building codes increase the potential costs of recovery each year. Going forward, we must understand that to prepare for the recovery of one of the above listed losses, we need to take a hard look at our insurance coverage. A standard homeowners or business property insurance policy does not contain coverage for earthquakes. The good news is that you do not need a separate policy to protect yourself and your most valuable possessions from devastating loss. Earthquake coverage can be added to existing policies to cover against damage to the structure of a covered building, your personal property contents and ‘loss of use’ coverage that will pay for a place to live while the repairs are being completed to your damaged home.

Adding this coverage today might increase your premium in the short term, but not adding could be financially devastating in the future.

Links

• http://neic.usgs.gov/neis/last_event_states/states_north_carolina.html
• http://insurancenewsnet.com/article.aspx?id=153461
• http://www.heritagewnc.org/WNC_natural_disasters/earthquakes.htm
• http://www.geology.enr.state.nc.us/Geologic_hazards_earthquakes/earthquakes.htm
• http://earthquake.usgs.gov/earthquakes/states/index.php?regionID=33